Section 60, The Banking Act, 2019

(1) All statements and other information furnished by abank or financial holding company including its officers and agents past and present, to the Central Bank under this Act shall be deemed secret and confidential. (2) All statements and other information furnished by other supervisory authorities or institutions, its officers and agents past and present, to the Central Bank, under this Act shall be deemed secret and confidential. (3) All statements and other information furnished by key management personnel and employees of a bank or financial holding company's parent company, subsidiaries, affiliates and associates past and present to the Central Bank, under this Act shall be deemed secret and confidential. (4) The confidentiality requirement under this section shall not apply where the Central Bank is - (a) satisfied that it is in the national interest, for the Central Bank to use any information in its possession to compile and publish statistical data, and anything relevant thereto; or (b) required by statutory duty or a court order to furnish any such statement or information. 74 75 (5) A statement and other information furnished by a bank or financial holding company under this section may be used by the Central Bank for the purposes of- (a) issuing establishment and operating permissions; (b) supervision of activities of a bank or financial (c) monitoring compliance of this Act; or (d) reviewing administrative decisions of the board of directors of a bank or financial 61 (1) Notwithstanding section 60 the Central Bank may, on obtaining assurances of confidentiality - (a) give to or receive from another Central Bank, financial regulator, supervisor, resolution authority, deposit insurance scheme or other authority in Sierra Leone or of a foreign country with functions corresponding to its functions under this Act, information deemed secret and confidential under section 60. (b) enter into cooperative arrangement or memorandum of understanding with other supervisory and resolution authorities, other financial sector regulators and stakeholders in Sierra Leone or of a foreign country for the exchange of information deemed secret and confidential under section 60.